Rhode Island § 18-10-3 - Registration of Securities in Name of Nominee
Full text of Rhode Island Rhode Island General Laws § 18-10-3 — Registration of Securities in Name of Nominee, with citation guidance and answers to common questions.
§ 18-10-3. Registration of Securities in Name of Nominee
R.I. Gen. Laws § 18-10-3
§ 18-10-3. Liability of trust company or banking association — Accounts to show ownership.
(a) Any trust company or national banking association shall be absolutely liable for any loss occasioned by the acts of any nominee or nominees of the trust company or national banking association with respect to any property so registered.
(b) The records of the fiduciary, whether corporate or individual, and the records of the trust company or national banking association in case of the registry of any property under the provisions of § 18-10-2, and all reports or accounts rendered by any fiduciary, corporate or individual, shall clearly show the ownership of the property by the fiduciary, corporate or individual.
(c) Any property so registered shall at all times be kept separate and apart from the assets of the trust company or national banking association.
History of Section.
P.L. 1958, ch. 101, § 3.
Source: official Rhode Island text · Last verified 2026-08-27
Frequently Asked Questions About Rhode Island § 18-10-3
What does Rhode Island General Laws § 18-10-3 cover?
Section 18-10-3 ("Registration of Securities in Name of Nominee") is part of the Rhode Island General Laws, the codified statutory law of Rhode Island. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Rhode Island § 18-10-3?
A common citation format is "Rhode Island General Laws § 18-10-3" (Rhode Island). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Rhode Island law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Rhode Island official source linked on this page or consult a licensed Rhode Island attorney.
How does Rhode Island § 18-10-3 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Rhode Island can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Rhode Island.